A recent report by Hyve Managed Hosting has revealed that a staggering 81% of UK businesses are struggling due to a shortage of skilled IT and tech professionals. The findings, published in the IT and Tech Skills Gap Report 2024, indicate that this skills deficit is significantly hindering operations across various sectors.
The report, conducted in collaboration with Censuswide, surveyed 500 business and IT decision-makers in the UK. It highlights the pressing challenges faced by organisations in sourcing talent capable of navigating today’s complex IT landscape. Alarmingly, 20% of respondents reported experiencing outages and data breaches directly linked to the skills shortage.
Key factors contributing to the skills gap were identified by the surveyed decision-makers. Many cited ongoing economic uncertainties and the rapid pace of technological advancement as critical issues. Notably, 42% of business leaders believe that the current rate of technological evolution is outstripping the speed at which new talent is being trained and developed, leaving businesses vulnerable.
The report outlines several concerning trends:
- 31% of respondents indicated that academic institutions are failing to keep pace with industry developments, leading to a shortage of qualified graduates entering the workforce.
- 30% pointed to inadequate training in schools, suggesting that current educational curriculums do not effectively prepare individuals for entry-level roles.
- A significant 35% of leaders noted that competition from larger tech firms exacerbates the situation, as these companies attract many skilled professionals from the job market. Additionally, 27% expressed concerns that the high costs associated with hiring qualified talent are widening the skills gap.
In terms of specific skills in demand, cybersecurity (43%) and cloud computing (34%) topped the list, with other sought-after skills including machine learning and artificial intelligence (33%), developers (26%), and data analysis/visualisation (25%). However, many UK business leaders reported difficulty in pinpointing the precise skills required when recruiting tech talent. Over half (52%) admitted they often settle for less qualified candidates due to a lack of suitable options.
To combat the IT and tech skills gap, companies are increasingly investing in the training and development of their in-house talent, which includes reskilling and upskilling existing employees. Furthermore, enhancing recruitment processes and forming partnerships with suppliers or managed service providers (MSPs) are being viewed as essential strategies.
According to the report, nearly two-thirds (65%) of business leaders currently collaborate with an MSP, with 90% of these companies relying on their expertise to address the skills gap. A third (33%) stated they depend heavily on MSPs to manage their IT and tech operations.
Charlotte Webb, Operations Director at Hyve Managed Hosting, commented, “As we prepare for a data-driven future, there is clearly a growing divide between the technology skills employers need and the skills they actually have access to. Our report highlights the necessity for a comprehensive strategy that promotes collaboration between businesses, government, and educational institutions to emphasise STEM subjects and the importance of IT skills.”
She added, “MSPs play a vital role in this strategy, helping businesses bridge the skills gap while allowing them to focus on their core objectives.”
For more information about the IT and Tech Skills Gap Report 2024, visit the Hyve Managed Hosting website.
